Public sector leaders spend as much as £300 Billion on third party suppliers every year in the UK. But if just 5% of that money was spent on innovative products and services it could unlock £15 Billion to support some of our most creative companies.
One region exploring how procuring new solutions could unlock value for local businesses and people is the West Midlands, where Connected Places Catapult is leading the DIATOMIC Accelerator, bringing together nine innovative firms with Birmingham City Council.
At a showcase event to promote the programme at the STEAMhouse in Birmingham in April, Principal Place Development Lead, Catherine Hadfield explained: “DIATOMIC is all about digital innovation, and the programme is supporting SMEs in the region with innovative solutions to some of the region’s biggest challenges around housing and waste management.”
Catherine chaired a panel session, and asked those alongside her for their thoughts on how best to create frameworks that allow innovation to thrive.
“For me, it’s about leadership,” replied Rikesh Shah, the Head of the Innovation Procurement Empowerment Centre. “It means senior professionals saying to their teams they have permission to experiment with new ideas offered by the market, not to worry if they get something wrong, but to learn – and to have the right guardrails in place.